Australia’s GDP falls more than forecast, confirming recession

Sydney: Australia fell into its first recession in almost 30 years with the economy contracting in the three months through June, while the recovery is buffeted by Victoria state’s renewed Covid outbreak and lockdown. Gross domestic product plunged 7% from the first three months of the year, the first back-to-back quarterly declines since 1991, statistics […]

ByteDance chief reconsiders TikTok options after new China rules

As President Donald Trump threatened to ban the US operations of the hit app TikTok, Chinese parent ByteDance Ltd.’s choices seemed to be limited to selling the business for $20 billion to $30 billion or leaving empty-handed. But after China signaled it will get involved in any deal’s approval, ByteDance founder Zhang Yiming is reconsidering his […]